Sri Lanka sovereign bond rated ‘B+(EX) by Fitch
ECONOMYNEXT – Fitch Ratings has given a ‘B+(EXP)’ rating to an international sovereign bond Sri Lanka is currently marketing.
The rating is in line with Sri Lanka’s issue default rating of ‘B+’ with a stable outlook.
Sri Lanka started marketing the bond with a price guidance of around 6.2 percent, Bloomberg Newswires reported.
The full statement is reproduced below:
Fitch Rates Sri Lanka’s USD Bond ‘B+(EXP)’
Fitch Ratings-Colombo-04 May 2017: Fitch Ratings has assigned Sri Lanka’s upcoming US dollar-denominated bonds an expected rating of ‘B+(EXP)’.
KEY RATING DRIVERS
The expected rating is in line with Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B+’ with a Stable Outlook.
The rating would be sensitive to any changes in Sri Lanka’s Long-Term Foreign-Currency IDR. In February 2017,
Fitch affirmed Sri Lanka’s Long-Term Foreign-Currency IDR at ‘B+’ and revised the Outlook to Stable from Negative. The Long-Term Local-Currency IDR is also ‘B+’ with a Stable Outlook.